Japan Petroleum Exploration Co., Ltd.
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Carbon Neutral Direction & Objective

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JAPEX has formulated “JAPEX2050: Toward a Carbon-Neutral Society,” which sets forth our direction, including GHG emission reduction target and focus measures, aiming to achieve the world’s “Realizing Carbon-Neutral Society in 2050” initiative.

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GHG Emission Reduction Target

  • Achieve net-zero emissions (Scope1 + Scope2) from JAPEX operations in 2050
    • As a first step, reduce the CO2 emission intensity of JAPEX operations by 40% in FY2030 compared to FY2019.
  • Strengthen line of business that contribute to the reduction of our supply chain emissions (Scope3)
    • Contribute to establish new technologies and energy supply with lower environmental impact, for reducing CO2 emissions in our supply chain.
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Focused Efforts to Realize a Carbon-Neutral Society

1. Turn carbon neutral into a profitable business based on CO2 injection and storage technology

  • Aim to achieve the early implementation and commercialization of CCS (Carbon dioxide Capture and Storage)/CCUS (Carbon dioxide Capture, Utilization, and Storage) as a pioneer in Japan.
    • Make the most of JAPEX strengths accumulated through oil and natural gas E&P in exploring and selecting candidate deep saline aquifers* for implementations, drilling injection wells, and monitoring stored CO2
    • Make contributions to CO2 transportation by leveraging our experience and expertise in natural gas and LNG (liquefied natural gas) supply
  • Strive to collaborate and enter into carbon-neutral businesses areas, where synergies with CCS and CCUS can be expected.
    • Focus on BECCS (Bio-energy with Carbon Capture and Storage) and natural gas-fired power plants with CCS as assumed areas of collaboration
    • Consider entering into business areas of carbon-recycling, including blue hydrogen and methanations

Note) * Deep saline aquifer: Sandstone layer in deep underground that includes ancient sea water (salt water) which are not suitable for drinking. Its geographical distributions are broader compared to oil and natural gas reservoirs, and CO2 storage capacity is anticipated.

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2. Expand participation in renewable energy projects

  • Aim to increase renewable energy projects in which JAPEX participates while utilizing knowledge and experience in conventional businesses.
    • Increase the business opportunities and examine commercialization, mainly in biomass power generation leveraging experiences in natural gas power generation business and offshore wind power generation which have an affinity with knowledge and experience of E&P
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3. Stable supply of oil and natural gas

  • Recognizing that oil and natural gas will remain as one of the major energy sources worldwide, continue to meet the demand for them.
  • As a comprehensive energy company, aim to achieve a carbon-neutral society through the use of CCS/CCUS and other decarbonization technologies, rather than through a complete shift away from oil and natural gas.
    • Participate in natural gas development projects and consider employing CCS/CCUS in them
    • Horizontally deploy various supply methods for natural gas and LNG to meet demand for fuel switching from coal and heavy oil
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